[24] Period until autumn offers opportunity for progress in Cyprus talks

OTTAWA, 30/05/2000 (ANA - N. Voulelis/I. Frangouli)

President Kostis Stephanopoulos, who began a weeklong official visit to
Canada on Monday, raised Greek concern over the possible establishment
of a nuclear plant in Akkuyu, Turkey, with Canadian technology during
his meeting with Canadian Prime Minister Jean Cretien.

President Stephanopoulos and Cretien discussed bilateral relations and
the prospect of their development, as he said, in the political,
economic and cultural sectors.

However, the issue of Canada selling nuclear technology to Turkey
preoccupied the two leaders and Cretien said afterwards that the Greek
president expressed Greece's concerns to him.

"Canada is committed on the possible establishment of the plant in a
region which will be safe from a geological point of view. Namely from
problems concerning the ground's seismic activity," Cretien said and
added that he guarantees that international specifications will be
strictly implemented for the establishment of such a plant.

Cretien told reporters that no major problems exist between Greece and
Canada and that he looks forward to a development in their relations.

President Stephanopoulos said he was pleased to discuss issues of
mutual concern with the Canadian Prime Minister in the framework of
traditional friendship between the two countries and with the prospect
of a further development of their relations.

Referring to the issue of Cyprus, Cretien said his country favors the
solution of a federation, invoking the model of Canada's federal
system, adding that his country's policy is for a political solution to
be found to the Cyprus issue and for the two communities to live
harmoniously with each other.

Cretien expressed satisfaction over the improvement in Greek-Turkish
relations through meetings and rapprochement between the two countries'
foreign ministers and, commenting on the question of Cyprus'
demilitarization, said the two interested parties should resolve the
issue.

President Stephanopoulos also visited Canada's Parliament where he was
welcomed by Senate President Gildas Molgat and House President Jilbert
Paren.

Earlier, President Stephanopoulos was received by Canada's General
Governor Adrienne Clarkson who said in an address that Greece's
influence is obvious in Canada, not only by the Greeks but also from
the music, art and culture conveyed by overseas Greeks. She added that
in past years cultural, academic and commercial relations have
increased considerably, with the latter increasing 20 percent in 1999.

President Stephanopoulos said Greece feels deep respect for the
Canadian people and that the Greek community regards Canada as its
second motherland.

He went on to say that he considers this visit important as he looks
forward to the strengthening of ties between the two countries and
their development in all aspects.

Greeks in Ottawa, meanwhile, gave Stephanopoulos an enthusiastic
welcome on Sunday, coming out in droves to attend a service at the
city's Church of the Dormition of the Virgin, officiated by Orthodox
Metropolitan of Canada Sotirios.

In his address to the assembled crowd, Stephanopoulos assured Canada's
Greek community that the Greeks at home do not forget their countrymen
living overseas, saying that his own affection and satisfaction over
their achievements were echoed by the entire Greek nation.

"The news from Greece is good. Our country is getting ahead. Our
country is progressing. Greeks are united. I would like Greeks
everywhere to be united," the president said in an inspired departure
from his prepared speech, adding that the closest bond between Greeks
on any spot on earth, apart from their faith, is the Greek language
that has survived for thousands of years.

Calling on the Greeks of Canada to "hold fast to this culture and
heritage," especially their language, he acknowledged that this could
be hard for those living abroad and studying in other languages.

A happy note was struck when it transpired that the Canadian Mountie
assigned to guard Stephanopoulos was a Greek-Canadian also called
Stephanopoulos, who hailed from the president's homeland of Achaia.

The Greek president was also greatly gratified when the Manitoba
transport minister announced that Greece could count on Canadian
support in its campaign to have the Parthenon Marbles returned to
Athens. According to the minister, a Canadian committee for the return
of the Parthenon Marbles, currently being held at the British Museum,
had issued a proclamation declaring its unreserved support for Greek
demands and its intention to fight until the marbles were returned to
the Parthenon.

Stephanopoulos heard the news with obvious pleasure and described the
campaign to restore the marbles to their rightful place a "national
affair".

After the service, Stephanopoulos met with teachers at the Greek
community school and later attended a dinner in his honor organized by
Ottawa's Greek community.

Athens, 30/05/2000 (ANA)

Government spokesman Dimitris Reppas on Monday announced that Belgian
Prime Minister Guy Verhofstadt would be arriving in Athens Monday
evening for a working visit, during which he will have talks with Prime
Minister Costas Simitis. The two men are scheduled to meet on Tuesday
morning, after which they will hold a joint press conference.
Verhofstadt will then attend a dinner in his honor given by Simitis.

Earlier on Tuesday, the prime minister will meet with Foreign Minister
George Papandreou, Reppas said, while on Wednesday he will chair a
meeting of a bi-ministerial committee to discuss preparations for the
Athens Olympics in 2004, before a debate on the Olympics in Parliament
that evening.

On Thursday, Simitis will leave Athens to attend an international
'third way' summit on June 2-3 in Berlin, called "Conference for
Progressive Governance in the 21st century", that will be attended by
14 other heads of center-left governments, including Bill Clinton.

Athens, 30/05/2000 (ANA)

Former French president Valery Giscard d' Estaing, internationally
acclaimed Greek composer Mikis Theodorakis and Nebraska professor and
environmental researcher John W. Doran will be this year's recipients
of the Alexandros A. Onassis Foundation's awards, the organizations
board announced on Monday.

Each of the recipients will also be awarded a $250,000 cash prize.

A relevant ceremony is scheduled for Nov. 7 in Athens.

The Foundation opted against awarding prizes for 1999, citing the
conflicts in the Balkans.

Onassis Foundation establishes new requirements for contests of
theatrical works

Foundation President Stelios Papadimitriou said on Monday.

He noted that requirements changed since the first competition for
theatrical works as "the level of quality of entries was unfair to the
Foundation," adding that this year the basic requirement was that at
least one of the playwrights' works to have been on stage.

"The result was successful. The number of theatrical entries submitted
last year for the competition was 540 compared to 1,400 the year before
last," he said, adding that the awards will be given in 2001.

He also announced that beyond the dance and music awards the foundation
would establish two more awards for the fine arts "so as to enrich the
awards institution, as has been clearly stated by Onassis' last will
and testament."

Papadimitriou also noted that the Foundation would build a new center
for its cultural activities on a plot near central Athens' Syngrou
Ave.

[04] Simitis says success will not be achieved if public administration
is not effective

Athens, 30/05/2000 (ANA)

Prime Minister Costas Simitis said on Monday "the economy is playing an
important role in the new phase Europe is experiencing, as well as
Greece's position in it. However, we will not succeed if public
administration is not effective."

Simitis, who was speaking after talks with Interior, Public
Administration and Decentralization Minister Vasso Papandreou on issues
concerning public administration, referred to the need of better
functioning for municipalities and prefectures since, as he said, most
citizens appeal to them to have their problems resolved.

"We want public administration to be close to the citizen who should
feel that the state cares about him," Simitis said, denying that the
state of public administration is bad and invoking a report on the
relationship between public administration and citizens according to
which many state that there is a response and no problem exists.

[05] Patriarchate stresses that Vartholomeos' comments have no relation
to ID furor

ISTANBUL, 30/05/2000 (ANA - A. Kourkoulas)

The Patriarchate reiterated on Monday that recent statements by
Ecumenical Patriarch Vartholomeos have absolutely no relation to the
on-going identification card furor in Greece, which has brought the
government into conflict with the Orthodox Church's hierarchy.

"The Ecumenical Patriarchate does not take a position on the
controversial issue of IDs in Greece, because it considers it (the
issue) an internal matter of the (Autocephalus Orthodox) Church of
Greece," a statement issued by the secretariat of the Patriarchate's
Holy Synod read.

Referring to the address by Vartholomeos over the weekend at the Halki
Theological School, the statement added that the Patriarch was simply
emphasizing the need for Turkish authorities to allow the reopening of
the Orthodox seminary school on the small island of Halki, located off
Istanbul in the Sea of Marmara.

The Turkish government "will become aware that it is in the interest of
all for this long-standing issue to be solved," Vartholomeos said on
Halki, addressing high-ranking dignitaries of the Ecumenical
Patriarchate from throughout the world.

Along these lines, he expressed a hope that Ankara will soon take the
necessary steps for the reopening of the School, which was closed by
the Turkish government in 1971.

Sources at the Patriarchate's Fanar headquarters said the Patriarch's
speech was written before the controversy over the IDs surfaced.

The Greek government's intent to issue new identification cards that
exclude religious affiliation in the predominately Orthodox country of
11 million has generated intense criticism from the Church's
leadership, especially Archbishop of Athens and All Greece
Christodoulos, who has demanded that Greek citizens retain the right to
voluntarily list their religious denomination.

Archbishopric statement: In response to the Patriarchate's announcement
on Monday, the director of the Athens Archbishopric's press office
agreed that Vartholomeos' statements referred exclusively to the Halki
School's reopening.

"What was said by the Ecumenical Patriarch on Halki regarding the issue
of the Theological School's reopening obviously deals with the
Ecumenical Patriarchate's relations with the Turkish state... this is
categorically verified by the official announcement on May 29 by the
secretariat of the Ecumenical Patriarchate's Holy Synod."

The director of the office, H. Konidaris, also referred to the Church
of Greece's support over the Halki issue, before focusing criticism on
the Athens News Agency (ANA).

"...Furthermore, for all those non-ecclesiastical circles attempting to
play dangerous and deceitful games with the supreme institutions of the
nation and Orthodoxy, let us stress that the 'custodians are aware'. We
recommend, especially to those of authority at the ANA (Athens News
Agency), an official state information service, to carefully read in
their entirety all texts, such as the speech by the Ecumenical
Patriarch.

"Texts of such seriousness and substance must not, under any
circumstance, be altered - particularly in such a crude manner - in
order to promote other expediencies," Konidaris added.

ANA response: Following the issuance of the release by the
Archbishopric's press office, ANA General Director A. Christodoulides
said:

"It's with surprise that we read the statement by the director of the
Athens Archbishopric's press office in reference to the dispatch by our
correspondent in Istanbul, which dealt with yesterday's (Sunday)
address by the Ecumenical Patriarch..."

"Coverage of the speech was given through three dispatches, and in none
of those did our correspondent link the Patriarch's address with the
issue of identification cards.

"The ANA bears no responsibility for the manner in which other mass
media outlets handled the issue," Christodoulides said, adding:

"We would, at least, expect that the director of the Archbishopric's
press office pay greater attention when he speaks of 'alteration for
promoting expediencies'," he concluded.

BRUSSELS, 30/05/2000 (ANA - G. Zitouniati)

Justice Minister Michalis Stathopoulos on Monday expressed the hope
that the tension surrounding the proposed abolition of the reference to
one's religious persuasion on the new state identification cards would
soon subside.

Speaking to the press, following a meeting of the European Union
Internal Affairs Council, Stathopoulos said that tensions did not rise
because of his initial statements, "which did not include anything more
than self-evident truths," but from reactions "of an emotional
nature".

"Before they realized, in a coolheaded and sober manner that the Church
and Orthodoxy is not in danger, that there is no intention of
persecution of the Church, possibly because of the emotional tension,
they understood the issue differently and there were those reactions,"
he added.

He stressed that the omission of religious persuasion from the new IDs
was mandated by the relevant 1997 law protecting citizens' personal and
by the Greek constitution, adding that "the EU agrees, it wants it and
requests it, but this was not the reason" behind the decision for the
omission.

Christodoulos attacks government: Archbishop of Athens and all Greece
Christodoulos on Monday accused the government of deliberately opting
to open the issue of the abolition of reference to one's religious
persuasion on identity cards after the April 9 election, fearing
unfavorable reactions by the electorate at the polls, reports said.

"This is why they decided that the timing for this coup d' etat was
best one month after the election. For otherwise, the result of the
election would have been different... The so-called reformists and
Europeanists are hell-bent on imposing their will on us," he was quoted
by a Church radio station as saying in private to a monastic community
on the island of Aigina.

The radio station later referred inquiring reporters to the Athens
Archbishopric, which, however, said it was not aware of Christodoulos'
remarks.

The report also quoted the Archbishop as warning against the dangers of
Greeks losing their national identity and their particular
characteristics inside Europe.

"Europe may fill our pockets but it may also empty our souls, and this
must not be allowed to happen," he was quoted as saying, also calling
for unity and faith in the leadership of the Church to handle the issue
successfully.

Church of Crete: An assembly of Cretan priests on Monday expressed
support for the decision of the Holy Synod of their Semi-Autonomous
Orthodox Church of Crete to call for the mandatory reference of
religious beliefs on state IDs.

The Holy Synod of the Church of Crete comes directly under the
authority of the Orthodox Ecumenical Patriarchate of Constantinople and
not under the Church of Greece.

The Cretan priests also expressed their concern over what they called
"the systematic electronic filing" being prepared, of which the new
identity cards were part.

They also called on the government to take seriously into consideration
the feelings of the religious Greek people.

Others: Representatives of other religious creeds, meeting in
Thessaloniki for a conference on peace in southeastern Europe on
Monday, declared their opposition to the mandatory reference of
religious beliefs on state IDs.

Mufti Mentso Jemali of Komotini, northern Greece, said that "even if it
is written that I am a Muslim it means nothing if I do not live like
one". Rabbi Isaac Asiel said "IDs are to show who we are and not what
we believe".

The Roman Catholic representative said "Greece is the only country in
Europe in which citizens declare their religion".

BRUSSELS, 30/05/2000 (ANA- M. Spinthourakis / V. Demiris)

The financial support EU member-states receive from the European
Refugee Fund should be in proportion to the absolute numbers of
refugees they receive, but also in relation to their population and
depending on their infrastructure, Justice Minister Michalis
Stathopoulos said on Monday.

Speaking at the Justice and Internal Affairs Ministers' Council,
Stathopoulos also said that any reference to the criteria for the
re-admission of third country nationals in agreements with their
governments should be preceded consensus at EU level.

The agenda of discussions included issues of developing a common asylum
and immigration policy, the fight against pornography on the internet,
mutual judicial assistance, and a draft regulation on the fight against
fraud.

According to another draft regulation, judicial decisions regarding
divorce in one member-state will be automatically recognized as valid
in all other member-states until March 1, 2001 at the latest. The
courts competent to decide will be those of the country where the
couple resides.

ROME, 30/05/2000 (ANA- L. Hatzikyriakos)

The Greek civilization has been a vital element in the formation of
European society to the present day and Greece today plays a
significant role in the process of European integration, Pope John Paul
II said addressing the new Greek ambassador to the Vatican, St.
Rokanas.

"The Greek civilization proved a fertile ground for the seeds of the
Bible, which flourished in a way that lifted the human spirit to high
levels of thought and action," he said in his address, carried in a
full page by Oservatore Romano, the Vatican's official newspaper.

"Only a union based on moral and spiritual values is worthy of the
great traditions and achievements of Europe, to which your country has
contributed greatly," the Pope said.

The ambassador in his address said that Greece agreed that the dialogue
between the Catholic and Orthodox Church should continue in the spirit
of the respect due to their long traditions and values, contributing to
the unity of faith and solidarity among Christians.

In another development, the landing force and the Permanent
Mediterranean Mine Warfare Force participating in the exercise are
moving towards Kyparissia, in the Peloponnese, where a landing
operation will be conducted on June 1.

The landing force is composed of two Greek tank carriers, three
American landing craft, one Spanish landing craft and a Turkish tank
carrier.

Athens, 30/05/2000 (ANA)

The German war reparations issue is pending as far as the Greek
government is concerned, Alternate Foreign Minister Elisabeth Papazoi
said on Monday, in response to a question tabled in Parliament by a
Communist Party of Greece (KKE) deputy.

"The government does not withdraw its relevant request. A political
settlement is been sought, one that will satisfy our reasonable demands
while at the same time will not be creating problems in the very good
relations between Greece and Germany," Papazoi said.

A recent decision by Greece's supreme court, Areios Pagos, mandated
payment of reparations to the relatives of the Distomo, Boiotia
prefecture massacre victims of 1944 by Nazi troops.

Athens, 30/05/2000 (ANA)

Government spokesman Dimitris Reppas on Monday roundly condemned the
recent vandalism of Jewish graves at Athens' 3rd Municipal Cemetery by
neo-Fascists, expressing the government's "horror" at this type of
phenomena.

"Not only do we condemn and deplore them but we also express our rage,
because this sort of behavior compromises [the reputation of] our
country and offends us all when it's directed against our fellow
citizens," he said.

Saying that this sort of vandalism "overstepped the limits of extremist
behavior," Reppas made it clear that it would not go unpunished.

An investigation was currently underway, he clarified in response to
questions, but no arrests had yet been made.

Coalition of the Left: The left-wing Coalition of the Left and Progress
party, in a statement issued on Monday, condemned the attack on the
Jewish graves, saying it "desecrated Greek society".

In its announcement, the opposition party stressed that such disturbing
phenomena were on the rise and that "citizens and social forces" had to
be alert against them, while it called on the government and all
political parties to condemn "all such displays that endanger
democracy."

Archbishop: On his part, Archbishop of Athens and All Greece
Christodoulos condemned the desecration of Jewish graves as well as the
acts of vandalism against the Jewish Holocaust Memorial in Thessaloniki
recently, expressing his sorrow and disgust, in a letter to the
President of the Jewish Council Moses Konstantinis.

Christodoulos said he felt "shame for those Greeks who dared such a
despicable, sacrilegious and vandal act ... on this land (Greece) the
thorn of racism, intolerance or discrimination against people with
different faith or language and education has never bloomed,"
Christodoulos said.

"The Greek civilization and our Christian ethics have enforced from the
very beginnings the acceptance of others either as foreigners or as
persons of other faiths," he concluded.

Athens, 30/05/2000 (ANA)

Smiles and good-natured speeches were again on the agenda at the latest
gathering of Greeks and Turks over the weekend on Rhodes, although one
of the organizers at a meeting of journalists and mayors cautiously
reminded participants "how Turkish reporters and a Greek mayor" almost
brought the two countries to the brink of conflict in January 1996.

While the Imia crisis that Greek state radio network director Yiannis
Tzannetakos was referring to now ranks as only a distinct reminder of
how much Greek-Turkish relations have improved over the past year, it
emphasized what many delegates cited as an innate weakness by mass
media in both countries to often separate objective reporting from
state propaganda.

The Greek-Turkish meeting of journalists on the sunny holiday island of
Rhodes was the third such get-together over the past year, with
previous meetings having taken place in Istanbul and Athens, the latter
just last February.

"There are several instances when the principles of
information-gathering aren't followed, these instances are the infamous
'national issues'... It's very interesting that in terms of commentary
you can find practically every opinion. What's missing completely,
though, is original and critical reporting,"

Takis Mihas, a columnist with the Athens daily "Eleftherotypia" said,
adding that western-style investigative journalism focusing on such
"national issues" is painfully rare among the mass media of the two
neighbors.

He also criticized what he called instances when the press "identifies
itself as an organ of the state".

"...It's almost 50 years of remnants that we are dealing with here
right now. So, it's not that easy to get over those psychological,
political, economic, even legal obstacles, which we face. What we are
doing right now is trying to better understand each other, to get to
know each other. To try to understand each other's language of truth,
of the heart," Oktay Eksi, the president of Turkey's Press Council and
a noted columnist for the daily "Hurriyet" noted.

In his address, Nikitas Lionarakis, the director of Greek radio's first
and second programs cautioned that unless tangible progress is made,
for instance, over the Cyprus problem or the Balkan Stability Pact by
next September, then recent steps at Greek-Turkish rapprochement will
face an impasse.

In opening the meeting's sessions, entitled "Mass Media and Local
Communities as Levers for Improving Relations Between the Greek and
Turkish Peoples", Rhodes Mayor Giorgos Yiannopoulos welcomed some 70
participants by citing the growing cooperation that both sides of the
Aegean, especially the Greek islands and the Turkish Asia Minor coast
must develop in order to compete amid a more globalizes economy and
world.

He also initially accepted an offer by the mayor of Marmaris, a Turkish
town lying across from Rhodes, for the twinning of the two
municipalities, adding however, that his island - the capital of the
Dodecannese chain - wants "substantive and comprehensive cooperation on
issues ranging from tourism to the environment, and not just an
exchange every year of folk dance troupes."

The meeting was organized by the municipality of Rhodes and the Athens
based Foreign Press Association.

[13] Spiliotopoulos claims to be victim of vested interests and that
'system did not work' to protect him

Athens, 30/05/2000 (ANA)

In an article in the "Eleftherotypia" daily on Monday, New Democracy
press spokesman Aris Spiliotopoulos defended his decision to press
charges against three reporters and a radio station for slander, saying
that in his case the system had not worked to protect him and forced
him into taking independent action. Referring to the "apathy" and
"strange silence" of the political world and competent state organs,
the main opposition's spokesman said that both he and ND leader Costas
Karamanlis had been the targets of an orchestrated campaign that he
linked to "vested interests" and the video lotto affair.

The attacks leveled against him by the three journalists, he said, went
beyond mere criticism. He described it as an attempt to "politically
castrate and destroy the character of those standing up to the front of
vested interests that today constitutes the most serious threat to the
quality and essence of democracy in our country."

[14] Former U.S. president George Bush and his wife Barbara arrive on
Crete

Athens, 30/05/2000 (ANA)

Former U.S. president George Bush arrived on the island of Crete on
Monday morning, continuing his cruise of Aegean islands. The yacht
belonging to shipowner Yiannis Latsis, carrying Bush, his wife Barbara
and friends and relatives of the couple anchored in the Gulf of
Anissara.

Bush and the members of his entourage went to a hotel where, speaking
to reporters, expressed satisfaction over being in Crete for the third
time, adding that on the previous occasions he had visited western
Crete thanks to former Prime Minister Costas Mitsotakis.

Replying to questions from the press on whether the children of
politicians do better than their parents, Bush said that both his son
who is running for president and his younger son, who is governor of
Florida, make his family proud since they are doing well in politics.

Athens, 30/05/2000 (ANA)

A new bill introducing eight major changes to the Athens Stock Exchange
(ASE) will be tabled in parliament this week, according to national
economy and finance minister Yannos Papantoniou in an interview with
the Athens afternoon daily TA NEA appearing Monday. The bill
introduces, inter alia, strict checks on listed companies regarding
their activities and finances.

The bill aims at greater transparency on the Athens bourse, and at
monitoring the supply of shares, Papantoniou said, adding that a second
bill would be tabled in July.

Papantoniou said that, under the bill, listed companies would be
obliged to provide specific data requested by the Capital Market
Committee regarding their financial status and activities, while severe
fines would be imposed on those that failed to do so.

Second, shareholders would have to give advance notice of the purchase
or sale of substantial share packages.

Third, a Code of Ethics will be introduced for listed companies
ensuring equal treatment and rights of the shareholders and
transparency on the finances of the listed companies.

Fourth, the ability is given for a postponement of a maximum six months
of approval of the informational prospectus or even the listing of
shares from a share capital increase 'if necessary to ensure the smooth
flow of supply of new titles on the stock market'. The same applies to
approvals of public subscriptions for share capital increases.

Fifth, the Capital Market Committee is given the authority to set out
conditions and obligations concerning the conduct of the companies,
shareholders and board of directors' members following a share capital
increase.

Sixth, specific qualifications and examinations are set out for staff
of the Stock Orders Intermediary Companies (ELDE) and Investment
Services Companies (EPEY).

Seventh, the ability is provided for temporary suspension of the
operation of a stockbrokerage (AXE), EPEY or ELDE 'when it is
ascertained that those companies have violated the legislation,
rendering their operation detrimental to investors and the smooth
function of the market'.

And eighth, 65 new organic staff positions are created on the Capital
Market Committee to strengthen its supervisory role.

Papantoniou said the purpose of the eight measures was to increase the
authorities of the Capital Market Committee in order to avoid instances
of insider trading and to enable it to more effectively monitor the
operation of brokerages.

Athens, 30/05/2000 (ANA)

Development Minister, Nikos Christodoulakis, on Monday announced the
creation of a Energy Futures Market in Greece aiming to absorb price
volatility, to reduce risks for producers and big consumers, and to
develop support services and employment in the Balkans and the
southeast Mediterranean region.

The market will be the support mechanism for the operation of Regional
Electricity Market, expected to be adopted as a priority at an energy
meeting in Athens.

Christodoulakis said that government plans to liberalize the domestic
electricity market envisaged: cutting electricity production costs,
offering reliable and accessible electricity energy to consumers around
the country, and achieving targets for renewable sources of energy,
natural gas, environment, new technologies and supply security.

A energy projects' conference will be held in Greece, June 1 and 2, he
said.

The conference will discuss ways to promote cooperation in energy
issues between European Union, Black Sea and Mediterranean states.

Christodoulakis said that a tender for selecting a strategic investor
in Attica's Gas Supply Company would be re-launched with the aim to be
completed by fall 2000.

He also announced the formation of an Energy Regulatory Committee, to
be headed by professor Pantelis Kapros, an independent authority
envisaged by EU directives.

Christodoulakis said that a liberalization of energy markets should be
promoted through structural measures to maximize benefits and
efficiency.

The development ministry will hold a new round of talks with oil
companies to discuss reducing their profit margins in fuels in view of
an expected new rise in fuel oil prices to be announced on Wednesday.

The government struggles to contain the impact of rising oil prices on
consumer price inflation in the country.

Athens, 30/05/2000 (ANA)

Central bank rates will decline this year, closing most of the gap with
their European Union equivalents towards the end of the year, National
Bank of Greece Governor Theodoros Karatzas said on Monday.

Karatzas, who heads the country's largest commercial bank, was speaking
after a meeting with National Economy Minister Yiannos Papantoniou.

Bank of Greece Governor Lucas Papademos has in the past indicated that
a more rapid decline of central bank rates would occur in the second
half of the year, leading to a drop in commercial bank rates.

Athens, 30/05/2000 (ANA)

The government on Monday signed a contract with the European Investment
Bank for a 20-year loan of 75 billion drachmas to fund auxiliary works
in a project to build a ring road for Athens, the national economy
ministry said.

The contract was signed in Athens by Deputy National Economy Minister
Christos Pahtas and EIB Vice-President Panayotis Gennimatas.

The 20-year euro-denominated loan has an interest rate of 6.05 percent
and seven-year grace period, the ministry said in a statement.

The EIB has estimated the project at 744.5 billion drachmas. Of the
total, 435.4 billion drachmas is for work undertaken by the Attiki Odos
SA consortium, and 309.1 billion drachmas for auxiliary works funded by
the state.

The project was a top priority for the government, Pahtas said.

Athens, 30/05/2000 (ANA)

A 46-member delegation of Kosovar businessmen is expected here on a
three-day visit on June 4, in reciprocity to a visit of Greek
businessmen to Pristina in January, organized by the Association of
Northern Greek Industrialists and the Hellenic- American Chamber of
Commerce.

The foreign guests, mostly traders, are interested in Greek products
suitable for the Kosovo market and in representing

Greek firms in the tenders of international organizations promoting the
work of reconstruction.

According to business leaders, the Greek participation in the
procurements of such organizations increased from two to 20 present
since the January visit. The visit of Kosovar businessmen is the second
one abroad after Germany last month.

Athens, 30/05/2000 (ANA)

Equity prices ended mixed in subdued trading conditions the first
trading session of the week on the Athens Stock Exchange. Shares in the
construction sector were mostly hit, while shares in the banks,
miscellaneous and smaller capitalization sectors ended with gains.

The general index ended at 4,593.95 points, down 0.06 percent, but off
the day's highs of 4,648.47 points. Analysts said that the 4,650 level
was a short-term resistance level for the market.

Broadly, decliners led advancers by 197 to 134 with another 16 issues
unchanged.

Macedonian Spinning, Informer, Lambrakis Press and Klonatex were the
most heavily traded stocks.

Derivatives prices end mixed on ADEX: Derivatives prices ended mixed on
the Athens Derivatives Exchange on Monday reflecting a similar close in
the two benchmark indices, FTSE/ASE 20 and FTSE/ASE 40.

Turnover was a low 6.2 billion drachmas in volume of 1,775 contracts.

A total of 696 futures contracts were traded on the FTSE/ASE 20 index,
worth 3.5 billion drachmas. The June expiring contract ended at
2,541.50 points, the July at 2,541.50 and the August at 2,558 points.

A total of 1,079 futures contracts were traded on the FTSE/ASE 40
index, with a turnover of 2.7 billion drachmas. The June expiring
contract ended at 648.75 points and the July contract at 641.50
points.

Bonds edge down in light trade: Bond prices in the domestic secondary
market ended lower in light trade on Monday, with players in New York
and London out of the world market due to public holidays in their
countries.

The Greek benchmark 10-year bond showed a yield of 6.09 percent from
6.109 percent in the previous session; and the yield on the equivalent
German bund was 5.23 percent.

The Greek paper's yield spread over German bunds was 86 basis points
from 88 basis points a session earlier.

Turnover through the central bank's electronic system totalled 24
billion drachmas from 143 billion drachmas in the previous session.
Sell orders accounted for the whole of turnover.

Drachma down vs. euro, up vs. dollar: The drachma on Monday fell
against the euro and rose versus the US dollar in the domestic foreign
exchange market.

At the central bank's daily fixing, the euro was set at 337.150
drachmas from 337.070 drachmas in the previous session.

Also at the fixing, the US dollar was set at 363.950 drachmas from
369.400 drachmas a day earlier.

The central bank intervened at the fix, selling more than 100 million
euros to meet robust demand for foreign currency, traders said.

Athens, 30/05/2000 (ANA)

The National Bank of Greece is contributing to the task of restoring
and preserving murals discovered in the prehistoric city of Akrotiri,
on the island of Santorini, with its financial aid in the framework of
its general subsidizing activity which amounted to 1.5 billion drachmas
in 1999 alone.

Addressing an event on the island, in the presence of National Bank
Governor Theodoros Karatzas and other officials, archaeology professor
and director of the excavations Christos Doumas said:

"If we continue with the same pace (due to the lack of adequate funds)
the restoration of the excellent murals, which came to light before
1975, will be completed in more than 40 years and run the risk of being
destroyed in warehouses. On the contrary, however, with credits
amounting to 50 million drachmas a year, with the existing
infrastructure at excavation laboratories and with increased and
skilled manpower which will work on a daily basis, the work will be
completed in 10 years' time."

On his part, Karatzas said in a brief address "the economy should
coincide with culture" and showed great interest in the course of
work.

Athens, 30/05/2000 (ANA)

Culture Minister Theodoros Pangalos said on Monday a committee headed
by film director Mihalis Kakoyiannis will be set up in the next two
weeks to organize the Cultural Olympiad's events and program.

Pangalos, who was addressing a press conference, also referred to the
issue of the Parthenon Marbles and their return to Athens from the
British Museum, saying "I will not use the issue of the Marbles' return
as a banner for my policy."

Pangalos presented his office's new director Rodolfo Meskie, who was a
European Parliament employee who had worked for the cultural capital
institution until now.

Over the weekend, he will be visiting the prefecture of Corinthia for
an on-the-spot examination of the region's cultural and archaeological
issues.

Athens, 30/05/2000 (ANA)

Coalition for the Left and Progress (Synaspismos) leader Nikos
Constantopoulos on Monday criticized the government for not utilizing
the consensus of the country's political parties in organizing the
Athens 2004 Olympic Games.

Speaking at a conference organized by his party, Constantopoulos said
three years after Greece undertook to organize the 2004 Games a balance
between persons and responsibilities was still sought.

[24] Period until autumn offers opportunity for progress in Cyprus
talks

NICOSIA, 30/05/2000 (CNA/ANA)

The period between now and autumn offers and opportunity for progress
to be achieved in the UN-sponsored talks on Cyprus, government
spokesman Michalis Papapetrou said here Monday.

He also said no proposals have been submitted to the government, adding
that when such proposals are on the table, these will be seriously
examined both by the government and the National Council, provided they
do not contain any element for recognition of the illegal regime in the
northern Turkish-occupied areas of the island.

Papapetrou told reporters that the National Council, the top advisory
body to the President on the handling of the Cyprus question, would
convene before President Glafcos Clerides leaves for the Geneva July 5
talks and after foreign envoys on Cyprus visit the island.

The spokesman said efforts are "underway by various countries and
mainly the UN to upgrade the talks".

He said if the Turkish side intends to hold proximity negotiations
instead of talks, "this satisfies our side because our intention is not
to exchange views or thoughts but to become involved in a substantial
negotiation which will create the preconditions for a

solution to the Cyprus problem", he added.

Papapetrou reiterated that "when a proposal is submitted, it will be
seriously considered both by the President of the Republic and the
National Council", but clarified that there is "no question of
recognizing in any way the illegal regime".

Commenting on President Clerides' remarks that he wants "to see
progress made by autumn" and that the Greek Cypriot side is "not
willing to cooperate with any effort of the Turkish side to waste more
time", Papapetrou replied that "it was a political observation and not
a warning".

The President of the Republic, Papapetrou added, "wants to point out
that the time offered is vital for progress to be achieved by the
autumn" and the government expects that by the autumn "the deadlock
will be broken and the procedure will substantially advance".

He called on the international community and the Turkish side to
undertake their responsibilities and to turn words into actions.

Since December last year, the UN led two rounds of proximity talks with
the Greek and Turkish Cypriot sides with a view to prepare the ground
for meaningful negotiations leading to a comprehensive solution.

Cyprus has been divided since 1974 when Turkish troops invaded and
occupied the island's northern third.

NICOSIA, 30/05/2000 (CNA/ANA)

European Union Commissioner responsible for Industry and Information
Society, Erkki Liikanen, will be in Cyprus next month on the occasion
of the third meeting of EU industry ministers and their counterparts
from Mediterranean countries.

This is the first time the meeting is taking place outside the EU. It
will be co-chaired by Cyprus and Portugal, the current rotating EU
presidency, who hands over the chair to France in July.

Liikanen is expected to have some contacts with government officials
during his brief stay here. He arrives on 21 June and leaves the
following day, after he delivers his presentation on "New
Euro-Mediterranean regional industrial cooperation approach."

Delegates from Mediterranean countries and the EU will review the
conclusions of their previous meeting in Austria and hear views on the
latest developments on Euro-Mediterranean industrial cooperation, on
competitiveness and industrial restructuring and on Euro-Mediterranean
as a free trade area.

Cyprus Minister of Commerce, Industry and Tourism Nicos Rolandis,
Portuguese Minister of Economy and Finance Rina Moura and the Maltese
Minister of Economic Services Bonici will address the opening.